Cryptocurrency management firm Grayscale Investments has announced the Grayscale Chainlink Trust, which provides institutional investors with access to a regulated investment vehicle with Chainlink (LINK).
This $30 million investment vehicle allows investors to passively invest by removing the burden of directly holding or managing LINK tokens.
Grayscale Chainlink Trust is listed on the OTC Markets Group under the ticker symbol “GLNK” and allows investors to purchase the product through their regular brokerage accounts. The product aims to reflect the market price of LINK by tracking the CoinDesk Chainlink Price Index (LNX). LNX provides the current USD price of LINK based on real-time prices from different exchange platforms.
Management fees and investment terms
Grayscale charges a 2.5% management fee for the Chainlink Trust, but does not charge additional fees based on distribution or performance. While the trust does not pay regular dividends, investors are reportedly increasingly interested in LINK-based financial products.
The Grayscale Chainlink Trust was initially established on February 26, 2021, and began trading on OTC markets on May 19, 2022. While the product aims to track the market price of LINK, shares of the Trust can often trade at higher or lower prices relative to the net value of its assets.
Stay tuned.